Stoxx Europe 600 index Forecast 2013

stock market today - Stoxx Europe 600 index Forecast 2013 : European stocks enjoyed a good year in 2012, with the Stoxx Europe 600 rising 14% through Friday. They could continue their rise in 2013. While the region's economy will limp through 2013, with negative growth in the first half at best, European companies could get a helping hand next year from global growth of 3% to 3.5%. The fortunes of European companies are more closely correlated to global growth than those of rivals in the U.S. and Asia.

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European Stock Market Forecast 2013

European Stock Market Forecast 2013 : coming up Italian and German elections could spark more volatility in the eurozone that could spill over and affect the British economy. "The eurozone debt crisis is likely to remain a significant risk for the UK economy in 2013.   progress had been made in Europe but to bring the crisis to a close there needed to be significant reform, such as lower labour costs in countries on the periphery of the eurozone.

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European stock market and Italian bonds down dec 11 2012

Stock market today - European stock market and Italian bonds down dec 11 2012 : European shares and Italian bonds edged lower on Tuesday as political turmoil in Italy weighed on confidence, but moves were subdued as investors waited for German confidence data later and the U.S. Federal Reserve's end of year meeting.

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Europe stock markets advanced october 17 2012

Europe stock markets advanced october 17 2012 ; Europe's main stock markets advanced on Wednesday for the third day in a row, with the euro hitting a one-month high above $1.31, on easing eurozone debt crisis concerns and following upbeat US company results.
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European stock market will open down october 12 2012

European stock market will open down october 12 2012 : European stocks were set to open lower on Friday as expectations for a weak earnings season and lingering uncertainty about Spain's debt crisis keep investors on the back foot after healthy gains in the previous session.   

    Financial spreadbetters expected Britain's FTSE 100 to open 15 to 18 points lower, or as much as 0.3 percent, Germany's DAX to open 15 to 18 points lower, or as much as 0.2 percent, and France's CAC 40 to open 13 to 18 points lower, or as much as 0.5 percent.
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Mario Draghi ECB Press Conference october 4 2012

Mario Draghi ECB Press Conference october 4 2012 : Draghi has pointed to inflation levels above 2.0% throughout 2012, after implying that current levels would be transitory however balanced in the medium term. Regarding the economic activity, the outlook for the euro zone remains worrisome, as risks for economic growth are still skewed to the downside. M.Draghi has also remarked the need for a confirmation of the fiscal compact and asserted that an interest rate cut was not discussed today.
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European stock markets higher october 2 2012

European stock markets higher october 2 2012 : Europe's main stock markets have risen, building on gains from Monday on the back of growing expectations of a full financial bailout for Spain.

After falling at the start of trading, London's benchmark FTSE 100 index of top companies on Tuesday was up 0.13 per cent at 5,827.69 points in late morning deals.
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european stock futures down october 1 2012

european stock futures down october 1 2012 : European stock index futures pointed to a lower open on Monday, adding to the previous session's losses on mounting concerns over Spain's economic crisis and as data signalled further evidence of slowing growth in China.

At 0602 GMT, futures for Euro STOXX 50, for Germany's DAX and for France's CAC 40 were down 0.3-0.6 percent.
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European stock market rose september 28 2012

European stock market rose september 28 2012 : European shares and the euro rose alongside commodities and other risk assets on Friday, as financial markets welcomed Spain's spending cuts and attention turned to an assessment of its troubled banks and French budget plans.
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impact protests in Greece and Spanish on stock market

impact protests in Greece and Spanish on stock market : Europe's fragile financial calm was shattered Wednesday as investors worried that violent anti-austerity protests in Greece and Spain's debt troubles showed that the continent still cannot contain its financial crisis.
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Effect Spanish recession on stock market

Effect Spanish recession on stock market : Markets across Europe have dropped after official figures revealed the Spanish recession has deepened at a "significant pace" in the third quarter.

In midday trading the FTSE 100 was 1.12% down, Spain's Ibex 3.13%, France's Cac 2.03%, Italy's MIB 2.78% and Germany's Dax was down 1.59%.
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European stock market drop 9-26-2012

European stock market drop 9-26-2012, European Stock Futures : European stock futures declined, following yesterday’s advance, after Federal Reserve Bank of Philadelphia President Charles Plosser said that the third round of bond buying may fail to stimulate growth or hiring. U.S. index futures were little changed, while Asian shares fell.
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European Stock markets september 21 2012

European Stock markets september 21 2012 : European (SXXP) stock futures climbed after a report that said the region’s policy makers will unveil a financial bailout program for Spain as early as next week. U.S. index futures and Asian shares also rose.

Gold miners including Randgold Resources Ltd. (RRS) may advance as brokerages from Bank of America Corp. to Deutsche Bank AG forecast record prices for the precious metal by next year. Glencore International Plc and Xstrata Plc (XTA) may move as a deadline neared on the takeover bid by the former. Devgen NV may be active after Syngenta AG made a cash offer.
 
Futures on the Euro Stoxx 50 Index, a benchmark for the euro region, gained 0.7 percent to 2,568 at 7:15 a.m. in London. Futures on the U.K.’s FTSE 100 Index (UKX) expiring this month rose 0.5 percent. Contracts on the Standard & Poor’s 500 Index climbed 0.3 percent, while the MSCI Asia Pacific Index added 0.7 percent.

“Spain is once more at the epicenter as markets continue to speculate on the timing of a rescue plan for the Spanish sovereign,” said Michael Hewson, a senior market analyst at CMC Markets U.K. Plc in London. “There was some good news yesterday with Spain successfully raising 4.8 billion euros on the debt markets at lower yields and better bid to covers.”

Spanish Economy Minister Luis de Guindos is in talks with European Commission authorities to facilitate a new bailout program that will be presented Sept. 27, the Financial Times reported, citing unidentified officials involved in the discussions. The plan will focus on structural measures sought by the European Union, not new taxes or spending cuts, the FT said.
Gold Price

Randgold Resources and African Barrick Gold Plc may pace gains among mining stocks. Fifteen of 29 analysts surveyed by Bloomberg said they expect gold prices to rise next week. Seven were neutral and the rest were bearish.

Glencore and Xstrata may move after the companies’ boards met separately yesterday as a deadline loomed for Glencore’s 21.9 billion-pound ($35.5 billion) takeover bid, a person familiar with the matter said.

The Zug, Switzerland- based mining company is due to respond to Glencore’s revised proposal, the largest this year, by 7 a.m. on Sept. 24.

Cie. Financiere Richemont SA may move after the company said in a statement it will buy Peter Millar LLC, a U.S. luxury apparel business, in a transaction that will be completed next month. The deal will have no material impact on consolidated net assets or operating earnings for 2013, the company said.

Devgen (DEVG) may be active after Syngenta offered to buy the company for 16 euros per share, a premium of 70 percent to yesterday’s closing price of 9.43 euros. 

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European stock markets 9/18/2012

European stock markets 9/18/2012 : European stocks remained sharply lower on Tuesday, as uncertainty over whether Spain will ask for help from the European Central Bank's new bond-purchasing program, coupled with the country's high borrowing costs dominated market sentiment.

During European afternoon trade, the EURO STOXX 50 tumbled 1.24%, France’s CAC 40 slumped 1.07%, while Germany’s DAX 30 dropped 0.96%.

Sentiment remained under pressure after Reuters reported earlier that Spanish Prime Minister Mariano Rajoy remains uncertain about asking for help from the ECB's new bond-purchasing program, which would mean signing up to a permanent bailout fund.

Spain's government faced protests over the weekend against public spending cuts, even as Madrid told its European partners that its next steps to overhaul the economy would avoid further cuts in public spending.

Spanish concerns overshadowed data earlier showing that the ZEW Centre for Economic Research's index of economic sentiment for Germany improved more-than-expected in September, ticking up to minus 18.2 from a reading of minus 25.5 the previous month, while the euro zone's index rose to minus 3.8 from minus 21.2, beating expectations for a reading of minus 16.5.

Financial stocks pushed lower, led by Italian lenders Intesa Sanpaolo and Unicredit, down 4.76% and 3.34%, while Spain's BBVA and Banco Santander tumbled 3.33% and 2.40% respectively.

Germany's Deutsche Bank and Commerzbank were also sharply lower, with shares plunging 3.76% and 4.26%, while French banks Societe Generale and BNP Paribas dropped 3.68% and 1.89%.

Elsewhere, auto stocks remained on the downside after a report earlier showed that European car sales fell 8.5% in August, posting an 11th consecutive monthly decline. German groups Volkswagen and BMW plunged 2.57% and 2.53%, while French manufacturers Renault and Peugeot plummeted 3.37% and 4.94%.

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European stock markets lower september 17 2012

European stock markets lower september 17 2012 : European stocks pushed lower on Monday, as concerns over the handling of Spain's financial crisis weighed on sentiment, while investors locked in profits after stocks were recently boosted by the announcement of fresh monetary easing by the Federal Reserve. During European afternoon trade, the EURO STOXX 50 dropped 0.54%, France’s CAC 40 slumped 0.62%, while Germany’s DAX 30 fell 0.24%.

Investors remained cautious as Spain's government faced protests over the weekend against public spending cuts, even as Madrid told its European partners that its next steps to overhaul the economy would avoid further cuts in public spending.

Earlier Monday, European Central Bank policymaker Ewald Nowotny reminded Spain that it needs to apply for a rescue package to qualify for the central bank’s bond-buying program, while Reuters reported that Spanish Prime Minister Mariano Rajoy is set to unveil a further economic reform package late September.

Stocks rallied broadly on Friday after the Fed announced that it would buy USD40 billion of mortgage-backed securities every month and would keep buying them until the job market improves.

Spanish lenders led losses in the financial sector, as Banco Santander saw shares plummet 1.75% and BBVA plunged 1.35%.

Other financial stocks remained mixed, as shares in French lenders BNP Paribas and Societe Generale advanced 0.65% and 0.32%, while Germany's Deutsche Bank tumbled 1%.

Elsewhere, commodity-linked stocks were also broadly lower, as steelmaker SSAB dove 7.81% after saying that demand for strip products has been much weaker than expected in the third quarter and warned that falling iron ore prices will hurt earnings in the first quarter of next year.

ThyssenKrupp, Germany’s biggest steelmaker, also lost 2.99% as UBS AG downgraded the stock to sell from neutral, while France-based ArcelorMittal plummeted 2.80%

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European stock futures down 9/10/2012

European stock futures down 9/10/2012 : European stock futures fell and the euro snapped a three-day advance amid renewed concern the region’s debt crisis will worsen. Emerging-market currencies gained and gold rose on speculation the world’s biggest economies will use monetary easing to combat slowdowns.

European shares trimmed the previous session's gains early on Monday, as investors went in to consolidation mode awaiting catalysts such as potential stimulus from the U.S. and a German constitutional ruling on the European Stability Mechanism.


By 0704 GMT, the FTSEurofirst 300 was down 1.91 points, or 0.2 per cent at 1,104.81, having hit a fresh 13-month intraday high on Friday on enthusiasm over the European Central Bank's bond-buying plan.

Euro Stoxx 50 Index futures declined 0.2 percent as of 7:19 a.m. in London, while those on the Standard & Poor’s 500 Index lost 0.3 percent following the gauge’s biggest weekly advance in three months. The MSCI Asia Pacific Index added 0.1 percent. Mexico’s peso strengthened against all 16 major counterparts and South Korea’s won rose to a one-month high. Gold added 0.1 percent, while copper climbed 0.4 percent.

Greek Prime Minister Antonis Samaras meets officials from the nation’s creditors today after failing to secure agreement from coalition partners on spending cuts. China’s industrial output grew in August at the slowest rate since 2009, while Japan’s economy expanded in the second quarter at half the pace initially estimated. U.S. employers added fewer jobs than economists forecast last month, adding pressure on the Federal Reserve to spur growth when they meet Sept. 12-13.

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German constitutional court decision prediction

German constitutional court decision prediction, German constitutional court decision september 12 2012, : German Constitutional Court hearing will be day of judgement for the euro

After years of turmoil, pain and fear, the euro's future may finally be decided be not on the streets of Greece but by a panel of grey judges at the German Constitutional Court

The courtroom is in a drab breezeblock building in a little-known southern German town. The eight judges are all dry legal professors, unfamiliar even within Germany.

And the legal arguments they are being asked to decide are so complex that the coterie of judges have already had a two months extension to be sure of all the technicalities.

Yet on Wednesday this unprepossessing venue will become the most important place in Europe. Germany's Constitutional Court, which sits in the town of Karlsruhe near the border with France, will essentially pass judgement on whether the eurozone has at least a chance to survive.

If they rule that the European Stability Mechanism (ESM) is compliant with the German constitution, then the final hurdle will be overcome in establishing a €700 billion bail-out fund, intended for use to prop up struggling eurozone economies.

If they rule that the ESM breaches the German constitution by handing over too much liability to Brussels, then the fund will be blocked for months or even years. Greece, Spain, and possibly even Italy could plunge into the abyss and depart, dragging with them any remaining hopes of eurozone survival.

The courtroom is in a drab breezeblock building in a little-known southern German town. The eight judges are all dry legal professors, unfamiliar even within Germany.

And the legal arguments they are being asked to decide are so complex that the coterie of judges have already had a two months extension to be sure of all the technicalities.

Yet on Wednesday this unprepossessing venue will become the most important place in Europe. Germany's Constitutional Court, which sits in the town of Karlsruhe near the border with France, will essentially pass judgement on whether the eurozone has at least a chance to survive.

If they rule that the European Stability Mechanism (ESM) is compliant with the German constitution, then the final hurdle will be overcome in establishing a €700 billion bail-out fund, intended for use to prop up struggling eurozone economies.

If they rule that the ESM breaches the German constitution by handing over too much liability to Brussels, then the fund will be blocked for months or even years. Greece, Spain, and possibly even Italy could plunge into the abyss and depart, dragging with them any remaining hopes of eurozone survival.


"It is not an exaggeration to say that this decision is the most important in the court's history," said Michael Efler, campaigner with German pressure group More Democracy, and one of the people petitioning the court.

Nor is it an exaggeration is that Wednesday is a huge day for the euro – a "D Day" for the single currency.

Voters in the Netherlands will chose a new government, and may usher in a previously-unthinkable era of eurosceptic rule in the country.

In Brussels the European Commission will formally issue proposals for a banking union – seen as a vital step to safeguard the single currency, and prevent recurrences of the past years' banking catastrophes.

And in Germany, the thumping financial heart of the eurozone, the Constitutional Court will decide whether the euro can be saved.

The ESM – a permanent replacement for the sticking-plaster European Financial Stability Facility (EFSF) – was due to come into existence in July. All of the 17 eurozone countries except Estonia (which accounts for 0.19 per cent of capital requirements, and thus can be ignored) had ratified the treaty needed to put it into effect. Germany's parliament and senate had approved it. All that was left was for the country's president, Joachim Gauck, to sign on the dotted line, for an extensive bailout fund to be created, intended to end uncertainty about the single currency.

But 37,000 German citizens had other ideas. Academics, Left-wing politicians, eurosceptics and democracy campaigners petitioned the court, claiming that both the ESM and the fiscal pact (allowing the EU to fine countries which overspend) contravened the constitution. They argued that both policies would hand over power to European institutions – requiring a referendum first.

If the court agrees that there is merit to the constituional challenges, President Gauck will be unable to sign the ESM into law - meaning fresh delay, at least, during further court deliberations. The eurozone might not survive the wait.

Politicians in Berlin rarely comment on the workings of the Constitutional Court, but so great is the concern over the outcome that Wolfgang Schaeuble, the finance minister, intervened last week.

"We have examined this carefully and I can't see any problems with our German constitution," he said. "They will not block, I am sure, the treaties of the fiscal compact and the ESM."

Most legal experts do not expect the court to reject the treaties as unconstitutional. But they believe it may demand alterations, potentially watering down the strength of the ESM – although exactly how is unclear.

Petitioners to the court are hoping that the red-hatted judges will throw another spoke in the wheel.

"We are not against the eurozone itself, but the ESM and fiscal compact mark the crossing of a red line," said Mr Efler, the More Democracy campaigner.

"It is totally unacceptable to create a European state through the back door, on technicalities, without a proper debate. We need a referendum on this, before we hand over control of our own budgets to Brussels."

Hans-Olaf Henkel, former president of the German Federation of Industry, said: "If the constitutional court challenges the ESM, then the euro is dead the next day.

"The markets will have a violent reaction, and the euro will not be able to stay intact. And that would be a good thing: the euro has missed all its economic objectives as well as its political objectives.

"Relations within Europe haven't been this bad for 50 years. Yet the 'euromantics' in Brussels now want a centralised state. It is ridiculous."

It all adds up to a very uncomfortable 24 hours for Mrs Merkel, who's convinced that the way to keep the eurozone intact is through austerity, combined with greater political integration.

And there are more clouds on the horizon. In early October the Troika – inspectors from the EU, IMF and ECB – will report on Greece. Their verdict will determine whether the embattled Mediterranean nation receives another tranche of the bailout funds, or is effectively bounced from the euro.

The EU summit that folows soon afterwards promises to be stormy – especially if by then the Dutch has a less compliant government, and French President Francois Hollande distance himself further from his unyielding German counterpart.

Even within Germany, Mrs Merkel faces an uphill battle. The opposition Social Democrats have wrung concessions from her, forcing her to emphasise growth alongside austerity in her rhetoric. The finan

German constitutional court decision prediction

The outlook for the euro zone looks a lot less ominous now that the European Central Bank has waded into the crisis with its plan to snap up unlimited amounts of debt issued by the bloc’s more fiscally strained member states.

But a German constitutional court decision next Wednesday on the legality of two euro-zone bailout vehicles poses a major risk for the euro. If the court were to rule the temporary European Financial Stability Facility and the permanent European Stability Mechanism are unconstitutional, it would call into question the central infrastructure the monetary union’s 17 member nations have used to calm the debt crisis.

It would also hamper the latest bond-buying plan announced by the European Central Bank this week, which pumped the euro higher and brought down the cost of borrowing for Italy and Spain.

Since the German parliament has already approved the bailout mechanism, chances of the German court rendering it illegal are very low, said Marc Chandler, currency strategist at Brown Brothers Harriman, adding “it does pose some risk.”

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Euro govt Bonds fall before ECB meeting 9/6/2012

Euro govt Bonds fall before ECB meeting 9/6/2012 : German government bonds fell on Thursday with expectations high that the European Central Bank will detail plans to buy struggling euro zone countries' debt to curb the bloc's long-running debt crisis.

Before ECB President Mario Draghi's news conference at 1230 GMT, Spain -- the country seen most at risk of needing ECB support -- will sell up to 3.5 billion euros of bonds in an auction expected to go without problems after recent falls in yields.


Spanish yields fell further after dropping sharply on Wednesday -- although the short end underperformed longer maturities before the sale -- after a media report said the ECB planned to buy unlimited amounts of short-term debt.

Two central bank sources told Reuters on Wednesday Draghi would give no details of planned amounts or explicit targets for spreads or interest rates, but with expectations for the meeting so high there was room for disappointment if Draghi does not come up with specifics.

"We've already had very good performance at the short end of Spain and Italy over the last couple of days and the leaks have created a situation where the ECB really has to live up to that now," said Norbert Aul, rate strategist at RBC Capital Markets.

"Our expectation is that we get some more information but not all the parameters today, so if the market is looking for even more than the leaks suggested already then the potential for disappointment is definitely there."

December Bund futures were 66 ticks lower at 140.73, with 10-year German yields up 6 basis points at 1.48 percent.

With interest rates set to remain low for a long time, pinning shorter-dated bond yields down, any further selling pressure on safe-haven German bonds is likely to come in longer-dated maturities, leading to a steepening of the yield curve

If the ECB delivers more than the market expects, 10-year yields could test the top of the recent range around 1.60 percent. But if Draghi only confirms what has been leaked already, Bunds may have some scope to pare their recent losses over coming days, analysts said.

One trader said the deteriorating euro zone economy would also help cap any losses. Purchasing Managers' Index data released on Wednesday showed the economic rot that began in smaller peripheral euro zone countries was now taking hold in Germany, something expected to be confirmed by the central bank's forecasts.

"The leaks mean (the meeting) could be an anti-climax. The shock and awe has gone but there is a risk (Draghi) may not be detailed enough," a trader said.

"Spain and Italy still have to ask for help so I'm not convinced we're out of the woods yet. The periphery can continue to rally but the ECB's growth forecasts are likely to paint a pretty grim picture so Bunds are probably not going to fall too far."

The recent rally in Spanish bonds, which has seen two-year yields fall from near 7 percent to just 3.15, is expected to help the auction. Spain will sell bonds with maturities of up to four years with primary market dealers ensuring the country gets the cash.

Markets will focus on how much excess demand there was above the amount on offer and the "quality" of the bids placed.

"Fully covered auctions at the top end of the target range should spur hopes in the morning that the ECB can kick-start demand," Commerzbank strategists said in a note.

France will also return to the market with the sale of up to 8 billion euros of debt, including a new 15-year bond .

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European stock markets sept 6 2012

European stock markets sept 6 2012 : European stock markets moved higher in afternoon action on Wednesday, after a Bloomberg News report said that the European Central Bank's proposed bond-buying program would involve unlimited, sterilized buying.

An upward revision to productivity of the U.S. nonfarm business sector also supported markets. The Stoxx Europe 600 index (XX:sxxp) rose 0.3% to 266.32. France's CAC 40 index (FR:px1) added 0.7% to 3,421.94, while Germany's DAX 30 index (DX:dax) gained 0.6% to 6,975.06. The U.K.'s FTSE 100 index (UK:ukx) slipped 0.1% to 5,666.45.

Today marks an important day for the stock market as the European Central Bank’s (ECB) monetary policy meeting that is scheduled to take place during the course of the day could decide the fate of bond-buying scheme.

German Chancellor Angela Merkel has indicated that she is likely to accept temporary ECB bond buying. Keeping the hope alive, the FTSE 100 is likely to open on an optimistic note, with 15 to 18 points in the green, as investors are watchful of the Bank of England’s monetary policy meeting scheduled later today.

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European Stock markets ‎rose september 3 2012

European Stock markets ‎rose september 3 2012 : European stocks rose on Monday, as investors eyed remarks by European Central Bank President Mario Draghi later in the day, although concerns over a global economic slowdown continued to weigh.

During European morning trade, the EURO STOXX 50 advanced 0.48%, France’s CAC 40 climbed 0.68%, while Germany’s DAX 30 rose 0.45%.

Markets were awaiting a speech by ECB President Draghi later in the day, amid speculation that the central bank is working on measures to help stabilize the euro zone's sovereign debt markets ahead of its upcoming meeting on September 6.

Sentiment remained under pressure however amid fresh concerns over China’s outlook for growth, after data earlier showed that manufacturing activity in the world’s second largest economy contracted in August.

China’s HSBC Flash Purchasing Managers Index, the earliest indicator of the country's industrial activity, fell to a 41-month low of 47.6 in August from a preliminary reading of 47.8, as new orders slumped in the face of weakening global demand.

Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale advanced 0.67% and 0.48%, while Germany’s Deutsche Bank and Commerzbank declined 0.42% and 0.40% respectively.

Italian lenders were sharply higher, with shares in Unicredit and Intesa Sanpaolo rallied 1.02% and 0.80%, while Spain’s Banco Santander and BBVA dropped 0.53% and 0.87%.

Meanwhile, Finnish phone maker Nokia saw shares surge 4.89%, as it was expected to unveil this week a new device produced in collaboration with Microsoft.

In London, commodity-heavy FTSE 100 climbed 0.61%, boosted by sharp gains in mining stocks.

BHP Billiton and Rio Tinto surged 2.08% and 1.90% respectively, while Evraz and Fresnillo saw shares rally 3.71% and 3.30%.

Copper producers Xstrata and Kazakhmys also added to gains, as shares jumped 1.39% and 2.61% respectively.

Separately, Bloomberg reported earlier that Glencore International, whose shares were down 0.38% in early European trade, is continuing to stick to the terms of a USD33 billion bid for Xstrata, resisting mounting pressure from shareholders to sweeten the offer four days before investors vote.

Elsewhere, financial stocks were broadly higher. Shares in the Royal Bank of Scotland added 0.15% and HSBC Holdings climbed 0.56%, while Barclays and Lloyds Banking advanced 0.98% and 1.02% respectively.

In the U.S., equity markets were to remain closed for the Labor Day holiday.

Also Monday, Market research group said that Spain’s purchasing managers’ index rose more-than-expected in August, hitting the highest level since March, although it remained in contraction territory for the 16th consecutive month.

Spain’s manufacturing PMI rose to 44 in August from 42.3 the previous month, beating expectations for a reading of 42.6.

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